[SMM Flash News] On the first trading day after the holiday, the spot-futures price spread between the SHFE silver 2506 contract and spot silver widened. Multiple suppliers indicated that due to their positions being trapped, they chose to stand firm on quotes and were reluctant to sell silver ingots. During certain periods, the spot-futures price spread between the most-traded SHFE silver contract and spot silver exceeded 20 yuan/kg. According to a trader, the intended purchase price today was TD+3-4 yuan for national standard silver in the Shanghai market, but actual transactions were minimal. Overall, on the first trading day after the holiday, suppliers' willingness to sell was low, and wait-and-see sentiment prevailed.